The Central Bank recently published that if the trend set in November 2023 for the growth of the economy continues, the Dominican economy should resume its usual strong growth pace next year.
The Monthly Economic Activity Index (IMAE) was 4.2% in November 2023, significantly better than the interannual variation of 3.6% in October and 3.1% in September.
“It is projected that the economy would be returning to its potential growth rate of around 5.0% in 2024,” reports the Central Bank in a press release.
The Central Bank explains that the IMAE has shown a recovery trend since August. According to the Central Bank’s forecast system, the real Gross Domestic Product (GDP) would be closing this year with growth of around 2.5%, slightly above the Latin American average of 2.2% estimated by Consensus Forecasts. The Central Bank says the country is expected to resume its growth pace of around 5.0% in 2024.
The Central Bank reports areas enjoying robust growth were tourism (up 10.7%), health service (9.8%), financial services (7.4%), energy (6.8%), communications (6.1%), and construction (5.8%).
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Central Bank
Hoy
El Dia
El Caribe
27 December 2023